NatWest and GamCare Join Forces To Help UK Gamblers Control Their Casino and Spots Betting Spending! (image source: https://www.gamcare.org.uk/news-and-blog/news/1889-2/)
As the UK’s rules and restrictions continue to tighten up over online gambling, NatWest bank is also taking things into its own hands by introducing a 48-hour gambling block on debit cards.
This year we already saw the introduction of a ban on funding online casino accounts at UKGC live casinos and online casinos. NatWest and all other UK bank customers no longer fund their live casino gaming using credit cards in an effort to stop UK players from getting into debt.
NatWest researchers feel the credit card ban is a positive move, so much so it has now begun putting gambling blocks on its debit cards. Players will now need to wait 48 hours between gambling deposits and any attempts to deposit during the ‘block period’ will return a declined transaction.
This is not a compulsory measure but an optional one there to help online casino players and sports betting fans control their spending. You can read how it works on the NatWest website.
NatWest Increase in Gambling in September 2020
While the UK was in lockdown, there was a marked decrease in gambling transactions. Presumably, this was for sports betting rather than online and live casino bets. However, as the restrictions on live sports events end and people are now back to work and building up cash surplus, punters are betting more often at live casinos and on sports betting sites.
NatWest research shows that there is a 32% rise in gambling expenditure by NatWest customers since the same period last year.
In response, NatWest wants to give its customers more control over their expenditure when it comes to online gambling. The gambling block means players can now budget what they are prepared to lose and then make their deposit. If the player losses, the new 48-hour block will prevent players from chasing their losses which is a common trait of problem gambling.
It is a positive for online gamblers that are frustrated with their lack of ability to control their spending or refrain from bad habits such as chasing losses or increasing their stakes and bringing through their bankrolls too quickly.
Partnership with GamCare Responsible Gambling
Last year, NatWest formed a partnership agreement with GamCare. The idea behind this joint venture is to offer help from the point of finance for those that gamble. This could be an online gambler or someone that places bets in local high street bookies.
Now NatWest customers can get help if they believe they are developing a gambling problem while there are also mechanisms in place for family and friend advice and treatment.
GamCare currently operates the National Gambling Helpline in the UK. According to their stats, 70% of problem gamblers have money issues. This sparked a nationwide call for banks to join the fight to help problem gamblers manage their gambling hobby better or quit altogether. NatWest obliged, and now its support staff are fully trained to deal with those seeking advice and help!
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